Co-op £100 Switch - Are Standing Orders Good enough?

Andystriker

Hi all,

I Can't find the answer on the other threads.

The Terms read as follows:

"£100 cash back Offer - terms and conditions

1. The offer is for £100 cash back which will be credited to the customer’s Current Account Plus account in the 4th month of account opening, subject to all qualifying criteria being met.
2. Offer is available to Stoke fans who open a Co-operative Bank Current Account Plus.
3. To qualify for the offer customers must be: be a UK resident aged 18 years or over; open a Co-operative Bank Current Account Plus between 9th November 2011 and 28th February 2012; use the dedicated switching service to transfer a minimum of two Direct Debits or standing orders before 31st March 2012 and credit a minimum of £800 per month into the account for three consecutive months from date of your completed switch.
4. If there are no Direct Debits to transfer the offer is unavailable.
5. Transfer of Direct Debits must be from another provider (not a Co-operative Bank or smile account).
6. Only one account is eligible for the offer per customer or joint account relationship.
7. The offer may be withdrawn at any time.
8. Not to be used in conjunction with any other offer.
9. £100 cash back will be credited to the customers Current Account Plus in the 4th month and after the qualifying criteria (detailed in point 3) has been met."


I have 2 small standing orders in my Lloyds Vantage Account so I qualify under no 3 where it says Direct Debits or Standing orders. But then condition 4 is thrown in where it says no Direct Debits - no deal.

So do I qualify with just two standing orders? Anyone know?

Also I would like to keep the Lloyds Vantage Account open. Will I be able to do this? Will the switching service just transfer the S/O's and the small balance or will it also close the Vantage Account?

Many thanks for any replies,

Andy

Gromitt

2 SO's was enough for the £200 offer, but that wording seems oddly specific. No biggee though, just open a savings account and setup a DD for it, then transfer.

peanuts92

Gromitt wrote: »

2 SO's was enough for the £200 offer, but that wording seems oddly specific. No biggee though, just open a savings account and setup a DD for it, then transfer.

Hang on you can make a DD to/from a savings account? But i thought you could only make a standing order? As a DD is from a company? I'm a little confused...

Gromitt

Most internet based savings accounts support DDs, such as AA, Saffron, etc. Bank savings accounts typically do not. Its a way of transferring money into the account easily.

Andystriker

Thanks for the replies.